Section 117.003 - Prudent Investor Rule(a) Except as otherwise provided in Subsection (b), a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in this chapter.(b) The prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by the provisions of a trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.Tex. Prop. Code § 117.003
Added by Acts 2003, 78th Leg., ch. 1103, Sec. 1, eff. 1/1/2004.Added by Acts 2003, 78th Leg., ch. 1103, Sec. 1, eff. 1/1/2004.